Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Dharani Sugars and Chemicals’ long-term bank facilities worth Rs 441.57 crore. The rating agency has also reaffirmed ‘A3’ rating to the company’s short-term bank facilities worth Rs 208 crore.
The company has received the said rating reaffirmation on the back of its promoters’ experience of more than two decades in the sugar industry, diversified revenue stream on account of integrated nature of operations of the company, longer crushing period and flexibility to process raw sugar.
Dharani Sugar is engaged in the manufacture of sugar and its by-products like bagasses and molasses, industrial alcohol, co-generation of power, and export of TNEB grids. It operates in three segments: sugar, distillery and power.
